Chegg exchanges $426.9M convertible notes for $368.7M cash; closing May 22

CHEGG, INC

Entered additional exchange agreements on May 12,14,15,2023 with note holders.
Total exchanged: $85.8M of 0% 2026 notes and $341.1M of 0.125% 2025 notes.
Cash repurchase prices: $65.2M for 2026 notes and $303.5M for 2025 notes.
Post-closing remaining outstanding: $414.2M (2026 notes) and $358.9M (2025 notes).
Transaction expected to close May 22, 2023; customary conditions apply.

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